Toronto home prices on average are 17.2 per cent higher than last year according to the Toronto Real Estate Board. There were 9,813 sales last month says TREB. That volume was 23.5 per cent more than in August 2015. The average price for homes sold, regardless of type of property, was $710,400 — with the average price for detached homes in the city of Toronto itself going up 18.3 per cent to $1.2 million. Some think that Vancouver’s new 15 per cent tax on foreign buyers could send investors to Toronto driving up prices further. Sales in Vancouver dropped 26 per cent in August compared to a year ago, following the introduction of the tax on Aug. 2.
